When should a physician refinance student loans?

Refinancing makes sense when you have stable attending income, good credit, and are NOT pursuing PSLF. Physicians who work for private practices or for-profit hospitals and can secure a rate 2%+ below their current federal rate are the best candidates.

What interest rates can physicians expect when refinancing?

Physicians with strong credit and stable income typically qualify for variable rates of 4-5% or fixed rates of 5-7%. Rates depend on credit score, debt-to-income ratio, and the loan term selected.

Does refinancing affect PSLF eligibility?

Yes — refinancing federal loans converts them to private loans, permanently disqualifying them from PSLF. If you are pursuing or considering PSLF, do not refinance. Use the PSLF calculator first to compare total costs.

Should I choose a shorter or longer refinancing term?

A shorter term (5-7 years) means higher monthly payments but much less total interest. A longer term (15-20 years) reduces monthly payments but increases total cost. The breakeven calculator helps you compare the total cost of each option.

Student Loan Refinancing Breakeven Calculator

Should you refinance your student loans? Compare total costs and find the month where refinancing starts saving you money.

Current Loan

Loan Balance

Current Rate (%)

Remaining Term

Refinancing Terms

New Rate (%)

New Term

Current Protections

I'm currently pursuing PSLFI'm on an income-driven repayment plan

Current Plan

$2,302/mo

Total: $276,193

After Refinancing

$2,073/mo

Total: $248,732

You Save $27,461

by refinancing over the life of the loan

Breakeven in month 2 (1 years)

Detailed Comparison

Monthly payment change-$229/mo

Current plan total interest$76,193

Refi total interest$48,732

Interest saved$27,461

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Should Physicians Refinance Student Loans?

Refinancing makes sense when you can secure a meaningfully lower interest rate and don't plan to pursue PSLF. Attending physicians with stable income and strong credit often qualify for rates 2-4% lower than their federal loan rates.

However, refinancing converts federal loans to private loans, which means giving up income-driven repayment plans, PSLF eligibility, and federal forbearance protections.

This calculator uses standard amortization formulas. Actual rates and terms depend on your credit profile and lender. Not financial advice.

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